IAG assessing alternative options for Air Europa deal, CEO says

LONDON (Reuters) – Iberia owner IAG is working to see if it can strike an alternative way to acquire Air Europa, its chief executive said on Wednesday, hours after the group said it would cancel the amended deal agreed in January.

Speaking at the online Capa Live conference, Luis Gallego said the impact of the pandemic meant the previously agreed structure no longer worked for IAG, but it was assessing its options to find a way to continue.

“Air Europa, let’s see if finally we can find a way to do it,” he said, while commenting on the competitive situation in Latin America.

“We are not going to continue with the current structure, we are trying to have a new structure that (will) allow this deal to happen.”

(Reporting by Paul Sandle; editing by Kate Holton)